Real Estate in Qualicum Beach, Parksville, and Nanoose Bay
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Qualicum Beach, BC Canada
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Real Estate Market Update February 2019 Qualicum Beach Parksville Fairwinds Nanoose Bay Deep Bay & Area Vancouver Island, BC

Home > Market News > Real Estate Market Update February 2019 Qualicum Beach Parksville Fairwinds Nanoose Bay Deep Bay & Area Vancouver Island, BC

February 2019

  • Photograph of Tom Whitfield
  • Parksville Qualicum Beach REALTOR®
  • Published: Apr 3rd, 2019 at 6:41 pm

Real estate market sales in the Qualicum Beach Parksville Nanoose Bay Fairwinds & Area see a great gray wave of Boomers (more like a gray tsunami...) retiring to the region. Retirees drive the local economy along with tourism. Retirees keep the trades people busy with home renovations and new home construction. The 'elderhood market' is now known as the new silver economy. This will have a dramatic effect on society, with tremendous business opportunities that emerge from this burgeoning demographic.

The Qualicum Beach Parksville Nanoose Bay Fairwinds Bowser Deep Bay area real estate market has levelled out in terms of pricing and shifted to a more balanced market.  In February, the median sale price of a single family home in the local area was $530,000 (not including waterfront or acreages) with an average sale price of $605,158. This is down by 4% compared to February of 2018. In February, the patio-home style of condo average price was $445,222 while apartment style was $264,871 and townhomes averaged $443,167. No building lots were sold in February and current inventory is very low.

A balanced real estate market trend in the Qualicum beach area has emerged with single family home sale and condo sale pricing having moderated or 'levelled off.' Refer to the graph in Part 1 showing single family home sale pricing. In the summer of 2018 a trend began to emerge towards a balance between supply and demand resulting in less upward pressure on sale price. Listings of single family homes were up by 72% compared to February of last year while the number of listings among all types of properties was up by 67% overall. It is important for Sellers to price their property competitively given the shifting dynamics in the real estate market. For February sales, it took on average 35 days to sell a single family home and the Sale/List price was 97%. About 30% of single family homes sell in the first week.

At RE/MAX Anchor in Qualicum Beach and RE/MAX First in Parksville, our full-time REALTORS have the highest number of sales per REALTOR when compared to our local competition. 

Outstanding Agents…Outstanding Results.

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